eBay Inc. Forecasted to Post FY2018 Earnings of $1.92 Per Share (EBAY)
eBay Inc. (NASDAQ:EBAY) – SunTrust Banks lifted their FY2018 EPS estimates for eBay in a research note issued to investors on Thursday. SunTrust Banks analyst R. Peck now forecasts that the firm will post earnings per share of $1.92 for the year, up from their prior forecast of $1.81. SunTrust Banks currently has a “Hold” rating and a $33.00 price objective on the stock.
eBay (NASDAQ:EBAY) last released its quarterly earnings data on Wednesday, October 19th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. eBay had a return on equity of 29.12% and a net margin of 22.00%.
A number of other research analysts also recently issued reports on the company. Cantor Fitzgerald reiterated a “hold” rating and set a $27.00 price objective on shares of eBay in a report on Tuesday. Monness Crespi & Hardt increased their price target on eBay from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird reissued an “outperform” rating and set a $35.00 price target on shares of eBay in a research report on Monday. Credit Suisse Group AG set a $34.00 price target on eBay and gave the company a “neutral” rating in a research report on Monday. Finally, Benchmark Co. increased their price target on eBay from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.95.
eBay (NASDAQ:EBAY) traded up 2.78% during mid-day trading on Monday, hitting $32.52. The stock had a trading volume of 21,812,838 shares. The stock’s 50 day moving average price is $32.01 and its 200 day moving average price is $27.59. The firm has a market capitalization of $36.72 billion, a price-to-earnings ratio of 19.99 and a beta of 1.17. eBay has a one year low of $21.52 and a one year high of $33.19.
In related news, SVP Raymond J. Pittman sold 39,030 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $32.14, for a total value of $1,254,424.20. Following the transaction, the senior vice president now owns 32,738 shares of the company’s stock, valued at $1,052,199.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan sold 50,000 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $31.95, for a total value of $1,597,500.00. Following the completion of the transaction, the director now directly owns 375,928 shares in the company, valued at approximately $12,010,899.60. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Magellan Asset Management Ltd boosted its position in shares of eBay by 16.1% in the second quarter. Magellan Asset Management Ltd now owns 42,152,135 shares of the e-commerce company’s stock worth $986,781,000 after buying an additional 5,833,160 shares during the period. Boston Partners boosted its position in shares of eBay by 10.8% in the second quarter. Boston Partners now owns 25,328,551 shares of the e-commerce company’s stock worth $592,941,000 after buying an additional 2,463,595 shares during the period. Independent Franchise Partners LLP boosted its position in shares of eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 23,263,787 shares of the e-commerce company’s stock worth $544,605,000 after buying an additional 3,485,706 shares during the period. FMR LLC boosted its position in shares of eBay by 183.0% in the second quarter. FMR LLC now owns 21,402,518 shares of the e-commerce company’s stock worth $501,033,000 after buying an additional 13,838,953 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of eBay by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 17,606,906 shares of the e-commerce company’s stock worth $412,178,000 after buying an additional 647,064 shares during the period. 82.07% of the stock is currently owned by institutional investors and hedge funds.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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